Anyone scalping the INDEX Futures??

D

Dowser

• Nov 14, 2016

• #1

I thought I'd start this thread in the Trading Journals section because it gives me moderation powers.

I was a regular lurker and occasional contributor to another thread with a very similar name. Unfortunately it's gone down the pan recently and regulars know why.

I hope the same people who contribute useful/interesting/witty commentary on the other thread will post here (should they be in the same mind as I, of course).

Needless to say, if you have form on the other thread, you will not be able to post here.

 

Last edited by a moderator: Nov 15, 2016

D

Dowser

• Nov 15, 2016

• #2

DOW. Price around yesterday's median. I'll be watching the PA around 18875. Support here could send the price through the overnight highs. Weakness here and we could see the price head for yesterday's low.

 

D

Dowser

• Nov 15, 2016

• #3

DOW. How strong is the selling gonna be from 18900? Will 18875 act as support?

 

darktone

Veteren member

Messages

4,019

Likes

1,086

• Nov 15, 2016

• #4

Wohoo! fab idea. Im guessin endscuff wont be trotting through here anytime soon :cheesy:

 

D

Dowser

• Nov 15, 2016

• #5

Cheers DT. Yep, this is the 'Eff you and the horse you rode in on' thread

 

D

Dowser

• Nov 15, 2016

• #6

18825 in play, which way's she goin? M5 closes still under 5EMA suggest down.

 

D

Dowser

• Nov 15, 2016

• #7

cbrads said:

18825 in play, which way's she goin? M5 closes still under 5EMA suggest down.

Click to expand...

5EMA is the only indicator I look at these days having decided all the others are of little or no value. I think I'd do well to get rid of this one too! But am just so used to looking at it now that the price looks like it's floating in the void without it - all psychological of course - they are my training wheels!

 

D

Dowser

• Nov 15, 2016

• #8

Buying from 18825 weakening maybe some more downside

 

D

Dowser

• Nov 15, 2016

• #9

Short here 18828. Stop 10. Tgt 25.

 

D

Dowser

• Nov 15, 2016

• #10

cbrads said:

Short here 18828. Stop 10. Tgt 25.

Click to expand...

Out -10

 

D

Dowser

• Nov 15, 2016

• #11

Well wasn't going to trade today whilst I got my head around this blogging lark but saw this set up and couldn't resist. Thought there might be a bounce from the low but did expect it to take me out. Hey ho

 

Attachments

• 
  DOW15-11-16.png

  95.1 KB · Views: 298

D

Dowser

• Nov 15, 2016

• #12

selling from 18850 weak expect the price to break out from this level

 

D

Dowser

• Nov 15, 2016

• #13

What a day! had to check the numbers to make sure I wasn't watching the footsie! Can anybody, who has a broader knowledge of the markets (news, correlations etc.) tell me why volatility is so low today?

 

timsk

Legendary member

Messages

8,721

Likes

3,421

• Nov 15, 2016

• #14

cbrads said:

. . . Can anybody, who has a broader knowledge of the markets (news, correlations etc.) tell me why volatility is so low today?

Click to expand...

Hi cbrads,



I can't - and don't - claim to have a broad knowledge of the markets, but today doesn't strike me as being particularly unusual. Where there's broad equilibrium between buyers and sellers, then there's nowhere for the market to go. Today is one of those days that hasn't been particularly volatile, but that's a against a backdrop of spectacular volatility following the U.S. elections. The chart above covers the major indices and there was plenty of opportunity on the Dax today and over 100 points for you on the Dow.

The indices are displaying a hinge pattern. If you've not read it, this thread on the topic by dbphoenix may be of interest: The Springboard .
Tim.

 

Last edited: Nov 15, 2016

D

Dowser

• Nov 15, 2016

• #15

Tim, you're quite right. I was just suffering a little tunnel vision watching the price grind along in that tight range (and licking my wounds from the losing trade). Never heard of the hinge pattern before, will take a look thanks

 

D

Dowser

• Nov 16, 2016

• #16

I'm looking at yesterday's median price 18866 as a potential area of support for a push back up to 18900. I think PA at this level will be important. If the price can push through 18900 and stay there I think it will breakout past yesterday's high. Otherwise we could be testing the lows again.

 

timsk

Legendary member

Messages

8,721

Likes

3,421

• Nov 16, 2016

• #17

cbrads said:

. . . Otherwise we could be testing the lows again.

Click to expand...

I don't really look at the Dow much these days - especially pre-market. However, FFIW, this is how it looks to me on a 10 point reversal Kagi chart.



I'd be short (currently short on the Dax) until there was a clear break of the trendline.
Tim.
PS. Your trade from yesterday was at the end of the down move during what turned out to be sideways chop. That's always a bu88er!

 

D

Dowser

• Nov 16, 2016

• #18

Hmmm weaker than i thought. Some buying coming in now from a lower level, how far can they push it? Res at 18875?

 

D

Dowser

• Nov 16, 2016

• #19

Hi Tim, I rarely trade pre-market either. Yes, there's a clear down trend that your non-time-based charts highlight nicely, my problem is that too often I'm trying to pin point the reversal. I think I'd do well to try a longer T/F with-trend strategy.

Thanks for the input

Chris

 

D

Dowser

• Nov 16, 2016

• #20

Selling looks weak from 18875 don't think it's gonna hold